Scotia Capital Inc. Decreases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Scotia Capital Inc. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 13.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,428 shares of the company's stock after selling 548 shares during the period. Scotia Capital Inc.'s holdings in Spotify Technology were worth $1,534,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Auxano Advisors LLC increased its stake in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after purchasing an additional 20 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after acquiring an additional 25 shares during the period. First Horizon Advisors Inc. grew its stake in Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after purchasing an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SPOT shares. JPMorgan Chase & Co. cut their price target on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Benchmark boosted their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Rosenblatt Securities reissued a "neutral" rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, KeyCorp lowered their target price on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $564.45.

Spotify Technology Trading Up 2.1 %

NYSE:SPOT traded up $11.78 during mid-day trading on Friday, hitting $574.85. The stock had a trading volume of 1,731,552 shares, compared to its average volume of 2,185,128. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The stock has a 50-day simple moving average of $576.70 and a two-hundred day simple moving average of $497.49. The company has a market capitalization of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.